A Brighter, Better Economy?
02 October 2013 •
For the first time since 2008 over 1,000 business leaders highlighted that outlook for the UK economy is now brighter, according to the latest poll from the Institute of Directors.
The IoD poll1 asked members to assess the statement that ‘the outlook for the UK economy is now brighter than at any stage since the onset of the financial crisis in 2008’; which 62 percent agreed with. The poll highlighted that there is a renewed confidence in the UK economy with 34 percent of members agreeing that they had high confidence in the economy, with a further 44 percent citing medium confidence.
When looking at their own organizations members maintained this positive outlook with over half, 59 percent, ranking their confidence about the outlook for their own organization between the scales of 7-10. Overall the mean score for all those polled was 6.3, a good indication that the economy is buoyant.
A further indication that the economy is moving can be seen by 42 percent of members being positive about their own company’s revenue with 29 percent of them believing they would remain profitable.
Commenting on this latest poll, Colin Edney, director at Warrener Stewart said; “Confidence in the economy and in business is improving. Through our work with owner managed businesses we have witnessed the highs and lows that economy has dealt them, but are finally seeing a level of positivity returning.
With unemployment levels falling by 57,000 in the last three months2 and UK retail sales rising by 0.2 percent in June3, according to the Office for National Statistics latest figures, businesses are right to feel optimistic, now is a good time to review their business plan and assess additional opportunities.”
Reference:
1. http://www.iod.com/influencing/press-office/press-releases/new-iod-poll-economic-outlook-at-its-brightest-since-2008
2. http://www.ons.gov.uk/ons/rel/lms/labour-market-statistics/july-2013/index.html
3. http://www.ons.gov.uk/ons/index.html